Small Business Sales Hint At Improving Economy
Wednesday, November 14, 2012
Aired 11/15/12 on KPBS News.
The number of small businesses sold in San Diego County already topped yearly sales totals from the previous three years. And there are still two months left in 2012.
SAN DIEGO Small business sales activity is picking up in San Diego County.
August, September and October's small business sales totals all posted year-over-year gains. And November is tracking ahead as well.
Peter Siegel founded the California-based company BizBen, which tracks the transactions, and he said the sales are hints that the economy is improving.
"These are all types of businesses, but most of these businesses usually have a selling price of a million dollars and under," said Siegel. "But they're all types of businesses from gas stations, to hotels, convenience stores, retailers, manufacturers, it really runs the gamut."
Economic uncertainty is the biggest factor holding down the number of business sales, according to Siegel.
In California, nearly 13,000 businesses changed hands this year. That's still well below the 18,000 transactions in 2008, the year before the nation's economic collapse.